Expected new Microsoft offer

Citygroup has raised the price target for Yahoo! to $34 per share adapted from the speculation that Microsoft will pimp its takeover bit for Yahoo!

“We believe that a Yahoo! sale to Microsoft — at a price higher than the initial $31 bid is the most likely outcome” and that the limited combined market share of the two companies would raise no significant issues, claimed Citigroup's analyst Mark Mahaney.

Source: New York Times